Welcome to our dedicated page for Carrier Global Corporation news (Ticker: CARR), a resource for investors and traders seeking the latest updates and insights on Carrier Global Corporation stock.
Carrier Global Corporation (NYSE: CARR) is a leading provider in the heating, ventilation, and air conditioning (HVAC), refrigeration, and fire & security sectors. The company serves both residential and commercial markets, with the HVAC segment contributing significantly to its revenue—60% from commercial and 40% from residential markets. Carrier's refrigeration segment includes transportation refrigeration, Sensitech supply chain monitoring, and commercial refrigeration businesses. The fire and security division manufactures a range of products, including fire detection and suppression systems, access control, and intrusion detection solutions.
Recently, Carrier has been actively transforming its portfolio. In April 2023, the firm announced plans to divest its fire and security and commercial refrigeration businesses. This strategic move was complemented by the acquisition of Germany-based Viessmann Climate Solutions for approximately $13 billion, aiming to bolster its climate and energy solutions offerings.
In a recent announcement on March 5, 2024, Carrier entered into a definitive agreement to sell its Industrial Fire business to Sentinel Capital Partners for $1.425 billion. This sale includes prominent brands like Det-Tronics, Marioff, Autronica, and Fireye. The transaction, expected to close in the third quarter of 2024, will allow Carrier to focus on its vision of becoming a global leader in intelligent climate and energy solutions. The firm plans to use the proceeds from this sale to pay down debt and resume share repurchases.
Carrier continues to innovate, recently leading an investment in Strategic Thermal Labs for a revolutionary liquid cooling solution for data centers. This initiative aligns with the company's goal to enhance energy efficiency and support high-density computing needs. Additionally, Carrier's financial performance remains strong, as evidenced by its robust first-quarter 2024 results showing a 17% increase in sales, bolstered by the Viessmann acquisition and organic growth.
Further solidifying its transformation, Carrier successfully sold its Global Access Solutions business to Honeywell for $4.95 billion, marking a significant milestone in its portfolio realignment efforts. This transaction is part of Carrier's broader strategy to focus on high-growth, high-margin segments within the intelligent climate and energy solutions market.
Carrier Global Corporation (NYSE: CARR) has partnered with Office Partners XXIII Block G1 LLC to design and operate a high-efficiency heating and cooling plant for the new FNB Financial Center in Pittsburgh. This 26-story, 475,000-square-foot mixed-use tower aims for a targeted LEED Silver rating. Carrier's Cooling-as-a-Service model will enhance energy efficiency and reduce operational costs. Construction is expected to complete by late 2023, positioning the FNB Financial Center as a key development in the Lower Hill District redevelopment.
Carrier Global Corporation (NYSE:CARR) will report its Q2 2022 earnings on July 28 at 7:30 a.m. ET. A conference call and webcast will follow, with access details provided upon pre-registration. Carrier is a leading provider of sustainable building and cold chain solutions, focusing on making environments safer and more comfortable. The presentation can be accessed through ir.carrier.com.
Carrier Global Corporation has announced a collaboration with Procter & Gamble to enhance indoor air quality and home safety. The initiative aims to raise awareness of healthy home practices, particularly in light of increased consumer concern since the pandemic. Key strategies include education on home health, innovative product development, and integrated solutions to simplify home maintenance. This partnership reflects a growing consumer interest in wellbeing and safety, and aims to provide actionable insights for improving home environments.
Kidde, the leading fire safety brand in North America, unveiled its new Kidde HomeSafe suite of Wi-Fi-enabled safety devices aimed at enhancing home safety. These products allow comprehensive monitoring of smoke, carbon monoxide, air quality, and water leaks through integration with the Kidde app. A survey shows 83% of Americans own smart devices for safety, with 60% depending on them for family protection. The Kidde HomeSafe devices are designed to provide real-time alerts and peace of mind, reinforcing the brand's commitment to creating safer homes.
Carrier Global Corporation (NYSE:CARR) announced a quarterly dividend of $0.15 per share, payable on August 10, 2022, to shareholders recorded by June 23, 2022. This action reflects the company's commitment to returning value to shareholders while maintaining its focus on delivering healthy, safe, and sustainable building solutions. Carrier is recognized for its innovative technologies and diverse workforce dedicated to customer satisfaction.
Carrier has partnered with Marketing 360 to provide cutting-edge digital marketing tools to its HVAC dealers. This collaboration aims to enhance the marketing capabilities of Carrier's contractors, facilitating business growth through the Marketing 360 platform. The platform offers a wide range of services including payment processing, CRM, and automation tools, designed to help HVAC businesses scale efficiently. With this initiative, Carrier reinforces its commitment to delivering superior digital experiences for its channel partners, ensuring they stay competitive in the market.
Carrier Global Corporation (NYSE:CARR) will have its Senior Vice President & Chief Financial Officer, Patrick Goris, speak at the Wolfe Global Transportation & Industrials Conference on May 24, 2022, at 9:10 a.m. ET. The event will be accessible via a live broadcast on ir.carrier.com, with a replay available afterward. Carrier is a global leader in building and cold chain solutions, dedicated to sustainability and safety. For further details, visit www.Corporate.Carrier.com.
Carrier Global Corporation (NYSE:CARR) announced that Chairman & CEO David Gitlin will speak at the 2022 Goldman Sachs Industrials and Materials Conference on May 10, 2022, at 1:00 p.m. ET. The event will be available for live streaming at ir.carrier.com, with a replay accessible post-event. Carrier, a leader in building and cold chain solutions, focuses on creating healthy and sustainable environments. For more details, visit www.Corporate.Carrier.com.
Carrier Global Corporation (NYSE:CARR) reported Q1 2022 net sales of $4.7 billion, a 1% decline from 2021, while organic sales rose 10%. The company's operating margin surged over 2,500 basis points due to a gain from the Chubb divestiture, resulting in a GAAP EPS of $1.58 and an adjusted EPS of $0.54. Despite $202 million in net cash outflows from operating activities and $258 million in free cash flow usage, Carrier reaffirmed its 2022 outlook, projecting sales of approximately $20 billion with organic growth in the high-single digits and adjusted EPS between $2.20 and $2.30.
Carrier Global Corporation (NYSE:CARR) announced a quarterly dividend of $0.15 per share, payable on May 19, 2022 to shareholders as of April 29, 2022. This decision reflects the company's commitment to returning value to its shareholders while maintaining a focus on sustainable growth. As a leading provider of building and cold chain solutions, Carrier continues to prioritize customer needs and innovation.
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